As mentioned, the number of edits on the edit counter is not equal to the number of edit points gained.The release notes for the current 'flavour' of WME was announced here :http://www.waze.com/forum/viewtopic.php?f=10&t=34860#p319704.This is where the number of points per edit was changed from previous releases due to an increased abuse of the editing system. There was also a 150 point limit placed on points gained per single save while using bulk-editing tools if I understood correctly.

shirlig wrote:clarifications:How do we count edits for points and editing-ranks (those you see in the dashboard)?we count the number of objects that have been edited within one "Save". An object can be count only once in 24 hours.

That means that a user who used ET to edit a city containing 1000 segments, then selected again the same city -and had saved again - will be credited for 150 edits only.